I can tell from my own experience that for pharmaceuticals, they invest heavily in China. One German pharmaceutical has within 1 year, tripled their own staff and bought a local pharma for 1 billion US$. At the same time they closed multiple locations in the US and laid off hundreds of people. Because of the current regime that do not support or believe in the new science. Both Chinese local and central governments are going hard on science with big investments or tax breaks.

Edit: not to mention the investment in Green and renewable energy. China invested 1 trillion dollars last year alone. https://hive.blog/hive-167922/@cryptoandcoffee/china-invested-1-trillion-on-renewable-energy-last-year-dqc

I spent my school years hearing the story of how China would inevitably become the world's leading superpower in the 2020s. Wild to see it playing out in real time.

Government spending on R&D in China increased by 90% to US$133 billion in the decade leading up to 2023, according to the most recent purchasing-power-adjusted data from the Organisation for Economic Co-operation and Development (OECD). By contrast, in the United States, spending rose by just 12%, to $155 billion.

I think they're not taking into account PPP. China is very likely spending more on science in PPP terms which is what really matters.

But at what cost?

The US is the world's top sponsor of state terrorism.

It's paywalled.